Name: Jack Ma, no longer China's richest person
Uploaded: 2021-03-02T04:27:27.fff+05:30
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Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday. Ma and his family had held t

Jack Ma, no longer China's richest person

Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday. Ma and his family had held the top spot for China's richest in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo's Collin Huang. Ma's fall out of the top three comes "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun report said.

Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday. Ma and his family had held the top spot for China's richest in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo's Collin Huang. Ma's fall out of the top three comes "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun report said.

The pandemic pushes digital innovation centre stage. Tech Vetran N Chandrashekhar talks to Vikram Chandra on tech bridging the gaps during Covid and beyond

The pandemic pushes digital innovation centre stage. Tech veteran N Chandrasekaran&nbsp;talks to Vikram Chandra on tech bridging the gap during Covid and beyond

Just as Zomato readies to deliver an IPO and Swiggy serves a hot valuation of $5 billion, brokerage house CLSA says India's food delivery business could

Just as Zomato&nbsp;readies to deliver an IPO and Swiggy&nbsp;serves a hot valuation of $5 billion, brokerage house CLSA&nbsp;says India's food delivery business could be a $11 billion market in 5 years. Swiggy controls 47% of the market while Zomato accounts second at 45%.&nbsp;Zomato was valued at $5.4bn (in February 2021) and Swiggy at $4.9bn (in April 2021). Amazon entered the market in May 2020 but significantly lags the two major players.&nbsp; CLSA&nbsp;expects Swiggy&nbsp;to take on a 'super-app' strategy as only 2 out of the last 10 entrants continue to operate.&nbsp;

Even as the govt opens vaccinations for all adults from May 1, the big question in the infection epicentre Maharashtra is, Where are the vaccines?...

Even as the govt opens&nbsp;vaccinations for all adults from May 1, the big question in the infection epicentre Maharashtra is -: Where are the vaccines?
Mid-morning on Tuesday vaccination drive at Mumbai's BKC centre has been halted due to shortage of vaccine.&nbsp;Boards reading 'Vaccine out of stock', put up outside BKC vaccination centre. Dean of the Centre has stated , "We had 350-400 Covishield doses, we've administered it. We're awaiting more doses. Around 2000 Covaxin doses are available for second dose, that is being administered."&nbsp;
On Monday, as many as 31 private centres couldn&rsquo;t administer vaccine in the city as they had run out of vaccine many state run hospitals too faced the same hurdle.&nbsp;
Also Read | <a href="https://www.editorji.com/story/india-set-to-waive-import-duty-on-covid-vaccines-says-report-1618892667098" target="_blank">India set to waive import duty on Covid vaccines, says report</a>

To raise the pace of vaccinations all eyes on Sputnik V arriving in India, speaking to media outlets Dr Reddy's clarifies on when the jab could be here and how much it

To raise the pace of vaccinations all eyes on Sputnik V arriving in India, speaking to media outlets Dr Reddy's clarifies on when the jab could be here and how much it would cost, here are the key pointers-:&nbsp;
<ul>
<li>Import of vaccine could be in a few weeks and pricing is being finalised</li>
<li>While global price for Sputnik is $10/dose, discussions are on price for imported doses in India&nbsp;</li>
<li>Importing will be the only option for now as manufacturing Sputnik V in India will take several months&nbsp;</li>
<li>Most vaccine producers pro price caps for those who need it but encourage govt to remove subsidy for those who can afford.</li>
</ul>

As the govt opens up vaccinations for the entire adult population here are some facts you need to take note of -: A total of about 124 million doses have been

As the govt opens up vaccinations for the entire adult population here are some facts you need to take note of -:&nbsp;
<ul>
<li>A total of about 124 million doses have been administered to 107.4 million people which represents 7.9% of the Indian population only 1.2% of population has received both shots.</li>
<li>At this current &nbsp;rate which is 2.7m/day &nbsp;India will need 6 months to vaccinate all of its population older than 45 and&nbsp;20 months to vaccinate all above 18 as per brokerage house&nbsp;CLSA's analysis</li>
<li>Gujarat, Himachal and Chhattisgarh are expected to take longer to vaccinate their populations fully while Assam, Uttar Pradesh and Bihar are expected to be quicker as per data by&nbsp;India Ministry of Health &amp; Family Welfare</li>
</ul>

Sputnik V vaccine has an efficacy of 97.6% against Covid-19 said Moscow's Gamaleya Institute and the Russian Direct Investment Fund.

<a href="https://www.editorji.com/story/sputnik-v-soon-in-india-all-you-need-to-know-about-this-covid-19-vaccine-1618754878130" target="_blank">Sputnik V vaccine</a> has an efficacy of 97.6% against <a href="https://www.editorji.com/covid-19" target="_blank">Covid-19</a> said&nbsp;Moscow's Gamaleya Institute and the Russian Direct Investment Fund. The data is based on the 3.8 million people who have received the full dose and is much higher than the 91% efficacy stated during trials.&nbsp;
Also Read | <a href="https://www.editorji.com/story/know-your-vaccines-how-do-sputnik-v-covaxin-and-covishield-work-1618306290653" target="_blank">Know your vaccines: How do Sputnik V, Covaxin and Covishield work?</a> Hyderabad based <a href="https://www.editorji.com/story/sputnik-v-when-will-it-come-how-much-will-it-cost-dr-reddy-s-lab-gives-clarity-1618899580386" target="_blank">Dr&nbsp;Reddy&rsquo;s Laboratories</a> will start importing bulk doses of its anti-coronavirus vaccine Sputnik V from Russia between April to June.
According to a contract signed between Hyderabad-based DRL and Russian Direct Investment Fund (RDIF), India will receive about 250 million doses of Sputnik V that would be sufficient for 125 million people.
Also Read | <a href="https://www.editorji.com/story/covid-19-sputnik-vaccine-to-be-rolled-out-in-india-next-month-1618473186372" target="_blank">Covid-19: Sputnik vaccine to be rolled out in India next month</a>

Domino’s India’s customer data has allegedly been breached, and is available on the dark web. Domino's says that no financial details were accessed.

According to cybersecurity firm chief&nbsp;Alon Gal, Domino&rsquo;s India&rsquo;s customer data has been breached, and is available on the dark web.
The data allegedly includes sensitive customer information like names, phone numbers, and credit card details. The 13TB data breach also includes information about the company&rsquo;s internal practices, and is reportedly on sale for 10 BTC, or around ₹4.25crore.
Domino&rsquo;s India said in a statement to Gadgets 360 that they had experienced a breach, but no data pertaining to financial information of any person was accessed, as the company does not store financial details or credit card data as a policy.
They further added that they are investigating the matter, and have taken necessary action to contain the incident.

Amidst acute shortage of Remdesvir across the nation Jubilant Pharma has developed an oral substitute for the anti-viral drug. The pharma major stat

Amidst acute shortage of Remdesivir&nbsp;across the nation&nbsp;Jubilant Pharma&nbsp;has developed an oral substitute for the anti-viral drug. The pharma&nbsp;major stated it has completed safety trials in animals and healthy human volunteers in India using a novel oral formulation of Remdesivir.&nbsp; The proposed oral treatment is expected to be for five days. Jubilant has now sought approval for additional studies for this oral formulation from the Drug Controller General of India (DCGI). Jubilant Pharma&nbsp;is one of the 7 companies in India who produce Remdesivir&nbsp;in partnership with&nbsp;Gilead.&nbsp;

In big move to boost Covid -19 vaccine production Finance Ministry has reportedly cleared Rs 3000 cr credit to Covishield.

In big move to boost <a href="https://www.editorji.com/covid-19" target="_blank">Covid&nbsp;-19&nbsp;vaccine</a> production Finance Ministry has cleared Rs 3000 cr credit to <a href="https://www.editorji.com/story/know-your-vaccines-how-do-sputnik-v-covaxin-and-covishield-work-1618306290653" target="_blank">Covishield</a>&nbsp;producing Serum Institute and Rs 1567 cr to Bharat&nbsp;Biotech
FM Nirmala Sitharaman&nbsp;said the supply advance have been to SII &amp; Bharat Biotech&nbsp;for vaccine&nbsp;supply till July.&nbsp; The move comes just as the Govt opens the vaccine floodgates for the entire adult population from May 1.
Also Read | <a href="https://www.editorji.com/story/after-covishield-covaxin-sputnik-v-which-covid-19-vaccines-can-india-expect-soon-1618391613940" target="_blank">After Covishield, Covaxin &amp; Sputnik V, which Covid-19 vaccines can India expect soon?</a>

Sensex and Nifty crack in trade as fears of the unstoppable Covid wave gripped the stock markets. Here are the headlines that are hitting Dalal Stre

Sensex&nbsp;and Nifty crack in trade as fears of the unstoppable Covid&nbsp;wave gripped the stock markets. Here are the headlines that are hitting&nbsp;Dalal&nbsp;Street -:
<ul>
<li>India's positivity&nbsp;rate doubles in less than 14 days. 1 out of every 6 samples being tested returned positive.</li>
<li>Acute oxygen shortage continues , Govt bans oxygen for industrial use. Auto industry hit by notification stocks collapse.</li>
<li>10 states now contribute nearly 80% to national tally, infection epicentres spreading&nbsp;</li>
<li>Hong&nbsp;Kong bans flights from India fear rises that ban may extend to other countries</li>
<li>Bank Nifty falls the most among sectors as worries of bad debts rise as localised lockdowns&nbsp;extend across the country.</li>
<li>Brokerages cut GDP&nbsp;targets for FY22, say expect more cuts if situation not contained by May.</li>
</ul>

While Nomura has downgraded projections of economic growth for the fiscal year ending March 2022 to 12.6 per cent from 13.5 per cent earlier, JP Morgan now projects GDP

As fresh Covid&nbsp;cases continue to spike over 2.5 lakhs daily the bets on India continue to decline with brokerages cutting their growth projections across the board.&nbsp;
<ul>
<li>UBS&nbsp;expects the current mobility restrictions to remain in place until end-May has cut it's growth expectation lower to below even the RBI's estimate at 10% vs 11.5%.&nbsp;</li>
<li>Citigroup&nbsp;now sees the current year's growth 50 bps lower at 11.5% mostly led down by private consumption and services.&nbsp;</li>
<li>JPMorgan&nbsp;has made the biggest cut , projecting the GDP&nbsp;growth now&nbsp; down 200 bps to 11% from their original&nbsp;13% bet.</li>
</ul>
&nbsp;As daily new cases double of last peak in September 2020 brokerages also warn that if the situation does not ease by mid may there could be a period of multiple growth revisions like in last year.

States are urging the centre to call for an urgent GST meet to reduce cost of medicines and medical equipment. States are demanding exemption of key Covi

States are urging the centre to call for an urgent&nbsp;GST&nbsp;meet to reduce cost of medicines and medical equipment.&nbsp; States are demanding exemption of key Covid drugs like Remdesivir, medical grade oxygen used in oxygen cylinders, and related supplements, which currently attract 12%.
The GST&nbsp;council has not had a meeting for the last six months.&nbsp;

The government has prohibited the supply of oxygen for industrial purposes by manufacturers and suppliers forthwith April 22, The centre decided to release 6,177 metric

The government has prohibited the supply of oxygen for industrial purposes by manufacturers and suppliers forthwith April 22, The centre decided to release 6,177 metric tonnes of oxygen with a priority to Mahrashtra&nbsp;and Delhi.&nbsp;
Mahrashtra&nbsp;will get&nbsp; the lions share fro the pie with 1500 metric tonnes to overcome the current shortfall.&nbsp;
Industry tiitans led by Mukesh&nbsp;Ambani have already started to pitch in. Sajjan&nbsp;Jindal&nbsp;of JSW Steel said, "We are supplying oxygen for medical purposes as our priority in response to current crises. Currently, the supplies are ramped up to over 185 tonnes and making every effort to increase further from all our steel plants across the country."

Hong Kong will ban flights from India starting April 20 till May 3 the government said in a statement Sunday. The ban comes just hours after hours officials confirmed a

Hong Kong will ban flights from India starting April 20 till May 3, the ban comes just hours after officials confirmed a second local Covid-19 case involving a mutated strain of the virus.
Hong Kong has also banned flights from Pakistan and the Philippines for 14 days starting April 20,
A circuit breaker arrangement is triggered for each of the countries as there had been five or more arrivals with the N501Y mutant coronavirus strain within seven days, the government said. Under the mechanism the three countries will be designated as &ldquo;extremely high-risk.&rdquo;
People already in quarantine in Hong Kong from those three nations will be ordered to take a further test on the 26th day after arriving in the city.

The Delhi government has filed an FIR against five airlines for allegedly not checking any passenger coming from Maharashtra for a negative RT PCR report. A News 18 re

The Delhi government has filed an FIR against five airlines for allegedly not checking any passenger coming from Maharashtra for a negative RT PCR report.
A News 18 report said that the case has been filed against Indigo, Vistara, SpiceJet and Air Asia. According to the Delhi government it is mandatory to carry a negative RT-PCR test report, which should not be older than 72 hours prior to departure if a person is coming from Maharashtra.
Those without a negative Covid test report will have to undergo 14-day home quarantine on reaching Delhi.&nbsp;

Niti Aayog Vice Chairman Rajiv Kumar said on Sunday that India needs to prepare for 'greater uncertainty' in terms of consumer as well as investor sentiments due to the

Niti Aayog Vice Chairman Rajiv Kumar said on Sunday that India needs to prepare for 'greater uncertainty' in terms of consumer as well as investor sentiments due to the fresh wave of&nbsp;coronavirus&nbsp;infections.
He said the government will respond with fiscal measures as and when required.
While acknowledging that the present situation has become far more difficult than it was in the past due to rising coronavirus infections, Kumar remained hopeful that the country&rsquo;s economy will grow 11 per cent in the current fiscal ending March 31, 2022.
 According to Kumar, India was on the verge of defeating&nbsp;Covid-19&nbsp;completely but some new strains from the UK and other countries have made the situation far more difficult this time around.
&nbsp;

India’s largest private sector lender HDFC Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago. With earnings g

India&rsquo;s largest private sector lender HDFC&nbsp;Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago.&nbsp; With earnings growth maintaining the 5-year average brokerages are most impressed with the bad debt numbers which have been contained to 1.32% The management however provided no clarity of when the ban of issuing new cards will be lifted.&nbsp;HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches
&nbsp;

Debt relief coming in for Kishore Biyani backed Future Retail as lenders agree to recast the debt. The recast as per filing has been done under the RBI's

Debt relief coming in for Kishore&nbsp;Biyani&nbsp;backed Future Retail as lenders agree to recast the debt. The recast as per filing has been done under the RBI's&nbsp;Covid-19 framework.&nbsp;
The debt recast of Future Retail includes repayment of loans to be extended upto a maximum of 2 years and also a&nbsp;pause in interest payments between March 1, 2020 to September 30, 2021.
With a total of over Rs 10,000 cr debt outstanding&nbsp;Future Retail is the largest debtor in the Biyani group, the total debt for the group&nbsp;stands at about Rs 21,000 crore.
&nbsp;

Acute shortage had led to a huge spike in the price of Remdesivir injection use in Covid-19 treatment, as per govt instructions pharma companies have slashes

Acute shortage had led to a huge spike in the price of&nbsp;Remdesivir&nbsp;injection use in Covid-19 treatment, as per govt instructions pharma companies have slashes the rates while raising production of the anti-viral drug.&nbsp;
Here are some of the the revised prices&nbsp;
<ul>
<li>Cadila: Rs 899 (vs Rs 2,800)</li>
<li>DRL: Rs 2,700 (Vs Rs 5,400)</li>
<li>Cipla: Rs 3,000 (vs Rs 4,000)</li>
<li>Mylan: Rs 3,400 (vs rs 4,800)</li>
</ul>
Remdesivir is considered a key anti-viral drug in the fight against COVID-19, especially in adult patients with severe complications.
Seven Indian companies are producing Injection Remdesivir under voluntary licensing agreement with Gilead Sciences, USA. They have an installed capacity of about 38.80 lakh units per month.&nbsp;At least six manufacturers have received approval for setting up additional sites that could scale up the production capacity of Remdesivir by 1 million vials per month.
&nbsp;

China’s Q1 GDP jumped a record 18.3% in the Jan-April quarter vs 6.2% in the previous quarter. The rise is the highest since 1992 at least as per

China&rsquo;s Q1 GDP&nbsp;&nbsp;jumped a record 18.3% in the Jan-April&nbsp;quarter vs 6.2% in the previous quarter. The rise is the highest since 1992 at least as per official data. The reading however was still a notch below the 19% markets were expecting.
The figures are inflated due to a very low base last year due the pandemic lockdown.In other economic data Industrial output rose 14.1% in March missing projection of 18%, while retail sales expanded 34.2% in March, beating expectations of a 28% gain
&nbsp;

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